There are a variety of issues that users face while they connect their bank account to QuickBooks. Some of these issues restrict users from connecting the account, while others restrict the other tasks. One such error is QuickBooks Banking Error OL-334. QuickBooks error ol-334 is a troublesome banking setup and connection error that users generally face. There can be a number of reasons for its occurrence, which are all discussed in the blog below.
What is QuickBooks Banking Error OL-334?
Quickbooks error OL-334 is an error that users encounter if their bank rolls out some of the improvements to their offerings. These offerings might be related to the administration, Web Connector the Direct Connect. The error strikes on the screen; the user may see the following error message saying,
“Your financial institution sent an error message.”
One thing that we would recommend you do is contact your financial institute, as there could be ongoing issues from their end.
QuickBooks Banking Error OL-334: Possible Reasons for its occurrence
The primary reason for QuickBooks Banking Error OL-334 is when the application fails to verify the user information with their bank. However, there can be other reasons that can evoke the banking error ol-334 to your system; these are discussed below:
- The discontinued adaptation of Windows or QuickBooks desktop can lead to the banking error ol-334.
- Another reason is to check if your bank has rolled out some improvements.
- Using an inactive bank account for online banking in QuickBooks can also lead to this QuickBooks Banking Error OL-334.
- If you try to access a service that is not activated, like Online Bill Payment Service, then also you may face this QuickBooks error ol-334.
- You may also get this issue if your bank servers or the internet service provider used by them are having an issue.
QuickBooks Banking Error OL-334: Important Details to Consider Before Troubleshooting It
Here are a few things that you must consider before troubleshooting the QuickBooks Banking Error OL-334.
- Check your internet connectivity, as you will be required to stay connected when you download the online banking invoices and transactions.
- Also, verify your firewall settings and recheck all the security configurations.
- Next, also verify that your QuickBooks application is updated to the latest version. If it is not downloaded, then you have to check the supporting version and download it.
- Verify if your transactions have got successfully downloaded from the Bank to the company file folder. If not, then contact your Bank and ask them to perform your account verification.
- You can also check for the issue by logging in to your account from any other system or online website. To do this, you are required to recheck the bank feeds folder having the Connlog.txt file and monitor the connection failure logs. So that you can show these messages to the bank and get assistance regarding the error OL-334.
Methods to resolve QuickBooks error ol-334
Since the error OL-334 is related to your bank account, so to resolve this error, the steps will be related to setting up your account details and configuring its settings. Check the complete methods to resolve this banking error ol-334 below:
Method 1: Access the account setup to fix the QuickBooks Banking error ol-334
- Firstly, make a backup for your QuickBooks company file.
- Then, verify the inactive accounts that are present there.
- After that, you need to deactivate the account for any online services.
- For the next step, you need to access the Bank Feeds setup.
- After that, hit the Ctrl key.
- Finally, enter your bank information here.
Method 2: Use TLS Security protocol and resolve the banking error ol-334
- For the first step, launch internet explorer and ensure that the latest version of the QuickBooks application is installed on your system.
- Then, go to the Browse windows and click on the Gear icon under the Settings tab.
- After that, you need to choose the Internet options followed by the Advanced tab.
- Next, you need to unmark the USE TLS 1.0 and mark TLS 1.2 options.
- Then, hit on the Apply button followed by the OK tab.
- After that, end the process by shutting down the window and relaunching the system.
Method 3: Make a new company file and resolve the banking error ol-334
- First, open the QuickBooks company file.
- Then click on the New company option.
- Next, you need to add the bank account for which you are facing the error.
- Now, click on the Set up the account for bank feeds.
- Then, after you have set up the bank feeds, Download the bank feed transactions to check for the amount.
- Lastly, connect to your bank.
Method 4: Create a Test company file to resolve the banking error ol-334
The main purpose of creating a new test file is to check if the problem is arising due to your bank or if there is an issue with your company file. So, to create a new company file, check the following steps:
- First, go to the File followed by the New Company option.
- Then click on the Start Setup and Skip button.
- After that, you need to enter the required information and then click on the Create Company option.
- QB may take some time to create the new company file, so wait a bit.
- Then, once it is all set! Click on the Start Working option.
- Now, you need to add your bank account details to the test file.
There can be two cases here:
Case 1: If you do not face any issues while downloading the bank transactions in the Test file
If, after creating a new test file, you are able to download the bank transactions, it means that the issue is with your primary company file. In such a case, you need to call our Experts to do further troubleshooting. Call us at our Toll-free number +1-(855)-955-1942.
Case 2: If you are not able to download the bank transactions in the Test file
Even after creating a new test file, you are stuck on the same issue; this means that the issue is with your bank. Either you need to verify your identity with your bank, or your bank is making some changes to its server or website. In this case, you may require to wait for some time till your bank does the maintenance, or you can directly call your bank and speak with their QB experts team.
Method 5: Deactivate your Bank Accounts
- At first, move your cursor to the Chart of accounts.
- Then choose the option saying include inactive.
- After that, for the next step, you need to tap on the Deactivate bank feeds option.
- Now, you need to shut down the window after you have deactivated the bank feeds.
- Then, coming to an end, you can try to access the file and account for the bank feeds.
Method 6: Create a new account and then go for the merger of accounts
- For this, first, click right on the account you are facing the issue with and then hit the Edit button there.
- Then, Highlight the account name and Copy it.
- After that, put an Asterisk (*) at the end of the Account name.
- Then, you need to hit on the Bank feed settings option followed by the Deactivate all online services option.
- Moving forward, click on the Save and Close buttons.
- Once you are done with it, choose the Chart of accounts option and Create a new account.
- Now, close and again open the company file and then click on the chart of accounts and choose the Edit account option.
- Then, remove the asterisk (*) sign that you put in step number 3 and click right on the Account to select and then on Save and Close buttons.
- Then if it asks you something then tap on Yes and proceed ahead to set up an account for the bank feeds.
- Now, conclude the steps by downloading the transactions to the newly merged account.
To Sum Up, everything
Hopefully, the aforementioned steps can help you easily resolve the QuickBooks Banking error OL-334. Yet, if you find the same issue even after performing the above-mentioned steps, then you need to check with your bank for the issue. If the issue is at their end, let them repair the issue and then recheck for the error. However, in case you are not sure if the error is at your bank’s end or yours and need assistance, call our QuickBooks experts to get help. Call the Toll-free number +1-(855)-955-1942 of Data Service Support and connect with us.
Frequently Asked Questions
The QuickBooks OL-error 334 is a banking error that users may face if there is some issue with their bank website or server. They may also face this error if their internet settings are not properly configured and so the QB is not able to access the online services.
You can resolve the QuickBooks error ol-334 by configuring your Internet settings like enabling TLS 1.2 protocol or activating or deactivating your account. You can follow the step-by-step methods given in the blog to repair this banking error OL-334.